PUBLISHER: Grand View Research | PRODUCT CODE: 1363039
PUBLISHER: Grand View Research | PRODUCT CODE: 1363039
The Africa pharmaceutical regulatory affairs market size is expected to reach USD 213.06 million by 2030, registering a CAGR of 6.81% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The market is driven by increasing demand for pharmaceutical products across the Africa region coupled with the growing need for safe and effective drugs, which requires stringent regulatory oversight.Moreover, the rise in the prevalence of various diseases, including communicable and non-communicable diseases, propels the demand for pharmaceuticals.
The COVID-19 pandemic had a significant impact on the market. The pandemic highlighted the importance of a robust regulatory framework to expedite the approval process for important drugs and vaccines, and African regulatory authorities responded by streamlining emergency authorization procedures. Moreover, COVID-19 emphasized the importance of strengthening pharmaceutical manufacturing capabilities within the region. Several countries have reduced their dependence on imports and are now investing in local production to enhance supply chain resilience. These factors have contributed to market growth.
The increasing number of clinical trials conducted in Africa is impacting the regulatory landscape. Many global pharmaceutical companies are conducting trials in the region due to the diverse patient populations and lower costs. As a result, stringent regulatory oversight is essential to safeguarding trial participants and ensuring the validity of research outcomes, bolstering the role of regulatory affairs. Moreover, the ongoing efforts to improve healthcare access and infrastructure in Africa are driving the demand for pharmaceutical products. As healthcare systems continue to evolve, regulatory affairs play an important role in assuring the quality and efficacy of medicines, thus driving the market growth.